Endava (NYSE:DAVA) Stock Price Down 5.6% - Time to Sell?

Key Points

• Endava PLC's shares fell by 5.6%, dropping from $13.41 to around $12.65, indicating a significant decline in stock performance.
• Analysts have mixed views on DAVA, with TD Cowen downgrading the stock from "buy" to "hold" with a price target of $17, while others like Guggenheim maintain a "buy" rating with a target of $25.
• Over 62% of Endava’s stock is held by hedge funds and institutional investors, reflecting strong interest in the company despite recent stock volatility.

Shares of Endava PLC Sponsored ADR (NYSE:DAVA - Get Free Report) fell 5.6% during trading on Friday . The company traded as low as $12.62 and last traded at $12.65. 573,629 shares traded hands during trading, a decline of 16% from the average session volume of 679,601 shares. The stock had previously closed at $13.41.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DAVA. JPMorgan Chase & Co. dropped their price target on shares of Endava from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday. Wall Street Zen cut shares of Endava from a "buy" rating to a "hold" rating in a research report on Saturday. Guggenheim reissued a "buy" rating and issued a $25.00 price objective on shares of Endava in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Endava in a research report on Thursday, July 17th. They issued a "hold" rating and a $14.00 price objective for the company. Finally, Cowen cut shares of Endava from a "buy" rating to a "hold" rating in a research report on Wednesday, May 14th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $25.11.

Endava Price Performance

The stock's 50-day moving average is $13.99 and its 200 day moving average is $18.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.18 and a quick ratio of 2.18. The company has a market cap of $747.61 million, a PE ratio of 33.33 and a beta of 1.12.

Institutional Investors Weigh In On Endava

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Endava during the first quarter valued at approximately $25,000. GAMMA Investing LLC lifted its position in Endava by 81.0% during the second quarter. GAMMA Investing LLC now owns 1,683 shares of the company's stock valued at $26,000 after acquiring an additional 753 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Endava by 733.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company's stock valued at $29,000 after acquiring an additional 1,680 shares during the last quarter. State of Wyoming lifted its position in Endava by 112.7% during the first quarter. State of Wyoming now owns 2,367 shares of the company's stock valued at $46,000 after acquiring an additional 1,254 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in Endava during the fourth quarter valued at approximately $100,000. Hedge funds and other institutional investors own 62.23% of the company's stock.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.